Cytokinetics Inc (CYTK): Choosing The Technical Investor Route

Cytokinetics Inc (NASDAQ:CYTK) does about 2.28M shares in volume on a normal day but saw 2110605 shares change hands in Friday’s trading. The company now has a market cap of 6.05B USD. Its current market price is $52.79, marking an increase of 0.98% compared to the previous close of $52.28. The 52 week high reached by this stock is $110.25 whilst the lowest price level in 52 weeks is $25.98.

Cytokinetics Inc (CYTK) has a 20-day trading average at $54.41 and the current price is -52.12% off the 52-week high compared with 103.19% distance from its 52-week low. The 50-day simple moving average of the closing price is $62.56 and its 200-day simple moving average is $54.82. If we look at the stock’s price movements over the week, volatility stands at 6.84%, which decreases to 5.67% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 42.75 to suggest the stock is neutral.

The consensus objective for the share price is $83.35, suggesting that the stock has a potential upside of 36.66% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 24, 2024 when UBS downgraded the stock to “Neutral” and issued a price target of between $61 and $92. Morgan Stanley also downgraded the stock to “Equal-Weight” from Overweight on January 05, 2024 at a price target of $60-$90. Goldman initiated its price target at $50.

Cytokinetics Inc (CYTK) stock is up 8.82% over the week and -19.12% over the past month. Its price is -36.77% year-to-date and 36.30% over the past year.

To reach the target analysts have set, the stock logically needs to grow 36.66 percent from here.

The company has a return on investment of -161.27%. The beta has a value of 0.75. Price to sales ratio is 1614.11.